SOURCE: Stewardship Financial Corporation

March 19, 2008 16:10 ET

Stewardship Financial Corporation Declares Cash Dividend

MIDLAND PARK, NJ--(Marketwire - March 19, 2008) - The Board of Directors of Stewardship Financial Corporation (NASDAQ: SSFN), parent company of Atlantic Stewardship Bank, has declared a $0.09 per share cash dividend to shareholders of record date April 15, 2008, payable May 1, 2008.

In announcing the dividend, Chairman William C. Hanse and President and Chief Executive Officer Paul Van Ostenbridge stated, "The Corporation continues to perform well given the current interest rate environment and as a result, we are pleased to recognize shareholders with this cash dividend. This dividend represents the forty-second consecutive quarterly dividend paid by the Stewardship Financial Corporation."

This dividend is in the same amount per share as the cash dividend paid in the second quarter of 2007, but represents a 5 percent increase over the second quarter cash dividend paid in 2007, as adjusted for the 5 percent stock dividend paid in November 2007.

Stewardship Financial Corporation's subsidiary, Atlantic Stewardship Bank, has banking offices in Midland Park, Hawthorne (2 offices), Ridgewood, Montville, Pequannock, Waldwick, Wayne (3 offices), Westwood and Wyckoff, New Jersey. The Bank recently opened its thirteenth branch in North Haledon, New Jersey with the grand opening celebration scheduled for Saturday, April 12, 2008. Atlantic Stewardship Bank opened in 1985, is a community bank serving individuals and businesses, and is well known for tithing 10 percent of its pre-tax profits to Christian and local charitable organizations. Please visit our website at www.asbnow.com or call 201-444-7100 for information regarding our products and services.

Contact Information

  • Contact:
    Mary Beth Steiginga
    630 Godwin Avenue
    Midland Park, NJ 07432
    201-444-7100